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Occupation Info

Compensation Administrator

Overview:

They direct development and use of techniques for assigning a compensation value for jobs. This includes job analyses, job descriptions, job grading, schemes, and surveys of what other organizations pay their employees for similar jobs.

Duties:

They interview and observe employees holding specific jobs to identify the tasks they perform, the skills and education needed and the importance of the job to the company.

They decide upon a scheme for either ranking ordering jobs or assigning a point value that indicates the value of each job to the organization.

They survey other organizations to determine how much they pay their workers in their city or region and decide whether to pay their workers more, the same, or less.

They set a wage or salary for each job in the organization and determines what kind of merit pay increase plan should be implemented as well as other incentives, ie, bonus, profit share.

Employment of compensation administrator is expected to grow much faster than average through 2018. Rising healthcare costs and a growing number of healthcare coverage options should continue to spur demand for specialists to develop creative compensation and benefits packages that companies can offer prospective employees.

Salary Range (National Average):

$32,000 to $36,000

Education Level:

Training for this occupation generally requires an Associate Degree from a 2 year or community college.

Additional Training/Education:

Compensation administrators generally require a bachelor's degree and often a master's degree in either human resource management, industrial relations, business or psychology. Actually a mix of courses from all these study areas is desirable. Additional courses in computer applications and statistics are becoming increasingly important.

Recommended Skills:

Weighing out the options in a situation or a problem and logically choosing the best course of action.

Paying attention to what other people are saying, and taking time to understand the points being made.

Determining how much money is required to get a job done, allocating those monies, and then accounting for all expenditures.

Assigning duties to others, motivating them, and evaluating their performance.

Allocating and budgeting your time for different tasks so that things get done when needed.

Being aware of the reactions of others, and understanding why they react the way they do.

The ability to understand complex written paragraphs, instructions, or reports.

Using logic to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.

Talking, giving speeches, or speaking in a group to convey information, explain ideas, or give instructions.

Composing and communicating your ideas in written form.

Recommended Values:

Having a routine job where the duties are very predictable and not likely to change over a long period of time.

Gaining the respect of others by the nature and/or level of responsibility of your work.

Being able to decide on how to get something done without significant direction from someone else.

Having a level of income that will afford you with luxuries, and which will allow you to become financially independent.

* National data collected by the Department of Labor between 2008-2012.
* For New York salary data information please click here.
* For New York green job information please click here.

Understanding acquiring positions in this field may be enhanced through continuing academic study (i.e. earning a baccalaureate or a master's degree) and/or work experience in the field, Queensborough Community College has established transfer agreements with other institutions for students who wish to further pursue their educational goals. Students are highly encouraged to meet with one of our Career Services to fully understand the opportunities available through study in their degree program.